The comparative balance sheets of Quick Books, Inc. as at December 31 are given below: Additional information: 1. Net income was $38,074. 2. Dividends declared and paid were $15,000. 3. Mortgage payable and other long-term borrowings were paid off at book value. 4. There were no additions of equipment during the year. 5. The change in accumulated depreciation represents the net effect of depreciation expense charged to Income Statement as well as the accumulated depreciation removed on disposal during the year. 6. Only one piece of equipment, which had been used for four years, was disposed during the year. It was traded in with a piece of land. The land's value was agreed at $110,000 and the balance of consideration was satisfied by the issuance of common stock to the landowner. 7. You have to compute the gain or loss on disposal of the equipment and show its effect on operating cash flow. 8. The company uses straight line depreciation to account for the use of long-lived assets and the useful life of equipment is 5 years. The salvage value is zero for all long-lived assets. Required: Prepare a statement of cash flows for Quick Books, Inc. for the year 2021 using the indirect method. In your own words, explain the difference between net income and operating cash